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Tuesday, March 1, 2011

A.C.C. 13.2 ... Morning Thoughts ...

So what is "Airelon's Challenge Chronicles"? You can find a description by clicking here.

I thought I would offer a few thoughts this morning on the state of the markets.

Silver: Especially after yesterday's Challenge Project entry, a few folks have asked about my silver, which, is of course separate from the A.C.C. portfolio My entire strategy for my personal bullion is up on A.C.C. 13, and outlined. The Dollar fell lower, Silver climbed higher ... so in other words ... Dan still has his silver.

My entire attitude towards the silver market is not one of entering a trade long or short ... but of exiting a profitable position. I'll trail my exit, and we'll see what I get. I honestly wouldn't be surprised to see the Dollar rally somewhat.

On a related topic to yesterdays issue, when I sell it, I'm selling it all through a second party account, and another address all together ... but I plan on reporting the sale to the I.R.S. (Never, ever mess around with trying to hide stuff from the government. Not ever.)

Trades Yesterday? I saw no entrances. Orange Juice moved lower, but again ... I couldn't see an entrance.

U.S. Dollar: It slid lower as I thought, but I missed my entrance, and I didn't want to chase it, especially at these levels. I was correct, but no trade, so no money made or lost.

Crude Oil: We've rallied again this morning, which is that large channel I talked about. Still continuing to watch it, because although this year the market can move at any time .. typically, we have this channel last until March 15th, at about which time, we rocket higher.

Sugar: We just moved higher and higher yesterday. But I haven't scratched the trade yet. In fact, overnight, we've moved lower.

Which is a pattern setup.

So now, if we rally? And then we form some congestion and consolidate underneath the recent .2950 high? Then yeah ... I'd look to short on a break to the downside. So again ... it's just watching and waiting for the right pattern to enter a trade. I'll be patient, and wait.

I might short it on a break lower than support that's formed at 8:40 pm. But the tape will have to be right. I've set an alert on Sugar at 28.59

Orange Juice: Very similar situation to Sugar. We moved lower, but I saw no way to enter a trade. We rallied a bit, and I'm watching that for a trade this morning on the short side. At the moment, the spread is just too wide. If we rally, consolidate and congest ... then yes, I'd be looking to short. But if we just break lower? I'm not sure if I'd be comfortable breaking to the downside on the last 20 minutes support. But I might. I'll just have to watch the tape and see.

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Note: The above statements should not be construed as an investment or trading recommendation. Airelon's Investing and Trading Journal is a blog that allows subscribers to look 'over my shoulder' as it were, for my own personal specific trading and investing ideas and thoughts for the next week. But they are only thoughts as of the moment of publication, and are subject to change.. Any trades or investments that I discuss within this blog are simply my own thoughts regarding my own investing and trading outlook. Remember that entering any market is an individual decision. There is no guarantee that I will enter, or have entered any of the trading or investing ideas that I discuss in this blog; as larger accounts may require a different strategy as the ones presented here. This blog simply contains my trading and investing thoughts for the next week. I, the author do not grant this work for wide distribution beyond any single individual subscriber as this publication is protected by U.S. And International Copyright laws. All rights reserved. No license is granted to the user except for the user's personal use. No part of this publication or its contents may be copied, downloaded, stored in a retrieval system, further transmitted or otherwise reproduced, stored, disseminated, transferred, or used, in any form or by any means except as permitted under the original subscription agreement or with prior written permission. I personally only enter any market after watching and reading the tape and I trade using money management principles. The losses in trading can be very real, and depending on the investment vehicle and market, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 14 years of experience in trading and investing in these markets. Airelon's Challenge Chronicles are demo accounts,with all of the inherent problems therein, which are used within this blog in an attempt to track the results of my own thought processes., and is run as a model. Traders who should make their own decisions based off their own research, due diligence, and tolerance for risk. Any pictures used within this blog are believed to be public domain. Any charts that displayed using the ThinkorSwim platform, or any other charting software are believed to be public domain. Any other pictures were obtained through Wikipedia's public domain policy. As a reminder, any trades discussed for "Airelon's Challenge Chronicles" would only be 'day trades' according to the parameters discussed for Airelon's Challenge Chronicles, at this stage of the game in order to escape the risk of over-leveraged gap opens in the commodity futures markets. As a 'trading sister' would have grown to the $30,000 level, I would have graduated the account into 'swing trading'. In addition, it is understood that readers have read my YouTube methodology series. It is also understood that the writer of this blog has repeatedly warned against the dangers of shadowing any other traders thoughts. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for ris

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